Protecting Lender and Borrower Interests

This CLE webinar will provide attorneys dealing with defaulted loans secured by personal property with a review of the circumstances under which an Article 9 foreclosure is preferred to maximize value for the secured creditor. The panel will discuss the Article 9 foreclosure process and outline best practices to address obstacles in Article 9 foreclosures. The panel will also discuss alternatives to Article 9 foreclosures in transfers of distressed assets.

Description

Secured creditors face challenges protecting their interests if a loan defaults. Practitioners must evaluate loan workouts and other pre-bankruptcy solutions to determine whether they are adequate to protect the lender’s interests.

While bankruptcy may often be preferred by secured creditors, a foreclosure under UCC Article 9 is better in certain situations. When appropriate, foreclosure under Article 9 is quicker, less expensive and more predictable than a §363 sale.

The Article 9 foreclosure process contains pitfalls and obstacles for creditors, but with careful planning, counsel can overcome these issues and minimize the risks.

Listen as our authoritative panel of secured transactions specialists offers its perspective on foreclosure under UCC Article 9, including how to avoid unexpected difficulties that arise with such sales. They will also compare UCC sales to other alternatives, including assignments for the benefit of creditors and bankruptcies.

Faculty

Mr. Cochran has extensive experience advising clients in workouts and restructurings involving complex collateral packages and multiple jurisdictions. He represents lenders in mezzanine loan transactions and other sophisticated commercial real estate financings, and has acted for lenders and other stakeholders in various bankruptcy matters, including DIP financings, section 363(f) sales and claims transfers.

Mr. Prendergast is General Counsel of the Uniform Commercial Code Division of First American Title Insurance...
|
Read More

Mr. Prendergast is General Counsel of the Uniform Commercial Code Division of First American Title Insurance Company. Prior to joining First American in 2001, he was in private practice in the Los Angeles area for over 25 years concentrating his practice primarily in the areas of commercial and corporate finance. He is Co-Chair of the ABA Joint Task Force on Filing Office Operations and Search Logic.

Mr. Weise practices in all areas of commercial law and has extensive experience in financing, especially in those...
|
Read More

Mr. Weise practices in all areas of commercial law and has extensive experience in financing, especially in those secured by personal property, including structured financing. He is regarded as one of the foremost authorities on Article 9 of the UCC. He is a member of the Permanent Editorial Board for the UCC and a member of the American Law Institute’s UCC Article 9 Drafting Committee. Mr. Weise is also the past chair of the American Bar Association’s Business Law Section Legal Opinions Committee.

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on
each recording. All formats include program handouts. To find out which
recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

CLE On-Demand Webinars are available 48 hours following the live program
and include video streaming of the full program plus handouts. They are
accessible 24 hours a day, 7 days a week. You can listen to the entire
program in one sitting or take a break and return to the place where you
left off. Strafford offers one-year of continuous access to every on-demand
program you purchase.

$297

Download

Downloads are available 48 hours following the live program and are
accessible 24 hours a day, 7 days a week. Webinar recordings include the
entire presentation including Q&A. Presentation materials can be viewed
on your screen. PDFs of the presentations are also available on each
program's web page.